Final answer:
Under the Independent Practice Association (IPA) model, the providers bear the most financial risk as they are responsible for managing patient care within the fixed payment received, and must absorb the cost if care exceeds the set fee.
Step-by-step explanation:
In the context of health maintenance organizations (HMOs) and the Independent Practice Association (IPA) model, the financial risk is distributed differently from traditional fee-for-service health systems. The IPA model is an arrangement where medical care providers receive a fixed amount of money per enrolled patient per period of time, regardless of whether the patient seeks care. This model shifts a significant part of the risk to the providers who are part of the IPA. They bear the risk because they receive a set fee regardless of how many services the patient uses. Conversely, the HMO pays a set fee to the IPA and thus the HMO avoids the risk of patients using more services than expected. Employers generally pay premiums to HMOs and are not directly at risk for the cost of actual services rendered.
Therefore, under the IPA model, b. The providers are likely to bear the most financial risk since they are responsible for managing patients' care within the capitation fee received from the HMO, and must absorb the cost if the care exceeds this amount.